According to
a research report "Photoelectric Sensor
Market with
COVID-19 Impact Analysis by Type (Through Beam, Retroreflective, Reflective),
Range, Structure, Beam Source, Output, Application (Industrial Manufacturing,
Food and Beverages) and Geography - Global Forecast to 2025", The
photoelectric sensor size is projected to reach USD 2.1 billion by 2025 from an
estimated USD 1.5 billion in 2020, at a CAGR of 7.8% from 2020 to 2025.
Extensive use of
photoelectric sensors in different industries, increased adoption of
retroreflective photoelectric sensors in various applications and surged
adoption of industrial robots across several regions are among the factors
driving the growth of the photoelectric sensor market.
Reflective
segment of photoelectric sensor market to grow at highest CAGR from 2020 to
2025
The reflective
segment of the photoelectric sensor market is projected to grow at the highest
CAGR of from 2020 to 2025. The growth of this segment can be attributed to the
advantages offered by reflective photoelectric sensors in terms of the ease of
their installation at one point only, their cost-effectiveness, and their
ability to carry out the non-contact detection of objects. Moreover, these
sensors are used to detect small objects, including color marks and labels in
packaging, industrial manufacturing, and consumer electronics applications.
By
structure, the fiber type photoelectric sensor market is projected to grow at
the highest CAGR of during the forecast period
The growth of the
segment can be attributed to the small size and shape flexibility of fiber type
photoelectric sensors and their ability to withstand challenging environments.
These sensors are used in punch presses, vibratory feeders, conveyors, pill
counting systems, small object detection systems, ovens, semiconductor
processing equipment, robotic arms, and moving machines in applications such as
food and beverages, pharmaceuticals and medical, etc.
By
application, the food and beverage segment of the photoelectric sensor market
is projected to grow at the highest CAGR during the forecast period.
The increased
automation of the food and beverage industry to maintain hygiene standards and
enhance production is expected to fuel the growth of this segment of the
market. Photoelectric sensors are used for sensing and reliably detecting
objects moving at high speeds. These sensors are used at a large-scale for
filling and packaging, level measuring, folding, sealing, taping, boxing, and
picking and placing operations in the food and beverage industry.
Download PDF
Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=192493409
By region,
APAC to account for the largest share of the photoelectric sensor market in
2025
APAC is projected to
account for the largest share of the photoelectric sensor market in 2025. The
growth of the market in this region can be attributed to the increased demand
for photoelectric sensors from industrial manufacturing, consumer electronics,
and building automation applications. Moreover, increasing research and
development expenditure and rising investments by governments of different
countries for the development of improved sensors for use in various
applications are also expected to further drive the growth of the photoelectric
sensor market in APAC.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B
research on 30,000 high growth niche opportunities/threats which will impact
70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers
worldwide including 80% of global Fortune 1000 companies as clients. Almost
75,000 top officers across eight industries worldwide approach
MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at
MarketsandMarkets™ are tracking global high growth markets following the
“Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with
the clients to identify new opportunities, identify most important customers,
write “Attack, avoid and defend” strategies, identify sources of incremental
revenues for both the company and its competitors. MarketsandMarkets™ now
coming up with 1,500 MicroQuadrants (Positioning top players across leaders,
emerging companies, innovators, strategic players) annually in high growth
emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000
companies this year for their revenue planning and help them take their
innovations/disruptions early to the market by providing them research ahead of
the curve.
MarketsandMarkets’s flagship competitive
intelligence and market research platform, “Knowledgestore” connects over
200,000 markets and entire value chains for deeper understanding of the unmet
insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™
INC.
630
Dundee Road
Suite
430
Northbrook,
IL 60062
USA:
1-888-600-6441
No comments:
Post a Comment